Warren County has signed off on the settlement of a property tax appeal with one of the county’s largest employers.

The commissioners have approved a settlement with Whirley Industries, Inc. regarding a total of eight properties in the City of Warren.

The subject properties include 401-403, 408 and 410 Laurel St. as well as 440 Union St. and 830, 618 and 624 Fourth Ave.

Online county assessment records indicate that the total market value for those parcels is $1,336,431 with an assessed value of $668,216.

A notice of settlement approved by the commissioners indicates that the parties — the county, Whirley and the Warren County Board of Assessment Appeals — have agreed to terms on a higher fair market value — $1,570,000 — but a lower assessed value, $453,730.

Assessed value is the number used to derive tax liability so the settlement indicates an increased market value but an assessed value roughly one-third less that the current assessed value.

“Whirley Industries, Inc., the Warren County Board of Assessment Appeals, County of Warren, Warren County SChool District and City of Warren have agreed to this stipulation,” the notice of settlement states.

A suggested order indicates that the adjusted assessed value “shall be applicable for the year 2020 and continue for subsequent years until adjusted by the Assessment Office of Warren County in the normal course of business” and stipulates that the taxing bodies — city, county and school district “shall issue refunds for the year 2020, if any, reflecting the new assessment.”

Action taken by the commissioners this week agreed to that amount and also authorized counsel “to sign on our behalf,” according to Commissioner Ben Kafferlin.

The commissioners unanimously agreed to the settlement during Wednesday’s meeting.